March 04, 2022
A decline in sneaker imports due to Q3’s Vietnam factory closures combined with a sharp falloff in exercise equipment, resulting in a 10.5% increase in total sporting goods imports to $6,503.3 million in the final quarter of 2021, against $5,883.8 million the year before.
Net income fell 26% in the fourth quarter to $17,659,000 from $23,932,000 on total revenues of $383,348,000, up 2% from $376,830,000 the year before, with a 1.0% comp decline lapping a 21.9% increase prior.
Accell, in which is likely its last report as a public company, had an 8% net income increase to €70 million ($82.7 mm) from €64.8 million on 6% higher revenues of €1,377.1 ($1,627. 8 mm), up from €1,296.5 million.
The Eager Beavertons’ motion for a new trial was denied by a Philadelphia, PA, district court judge, while plaintiff Lontex’s damage award was increased to $791,000, after winning a jury verdict in Dec. that Nike had infringed on its Cool Compression trademark.